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Financial News: France Inflation Eases More Than Expected In May

France Inflation Eases More Than Expected In May

05/31/2017 - 06:10:00 (RTTNews)

(RTTNews) - French consumer price inflation eased at a faster-than-expected pace in May, preliminary figures from the statistical office Insee showed Wednesday.

The consumer price index rose 0.8 percent year-over-year in May, slower than the 1.2 percent climb in April. Economists had expected the inflation to slow to 0.9 percent.

Inflation was mainly driven by a 5.4 percent spike in energy prices, but much slower than the 9.3 percent rise in April. Food prices rose 0.4 percent and those of other food products went up by 0.5 percent.

On a monthly basis, consumer prices edged up at a stable rate of 0.1 percent in May, in line with expectations.

The EU measure of inflation, or HICP, climbed at a slower pace of 0.9 percent yearly in May, following a 1.4 percent increase in April. The HICP inflation was expected to fall to 1.1 percent.

Month-on-month, the HICP showed no variations in May, while it was forecast to rise by 0.1 percent.

In an another report, the statistical office revealed that producer prices in the French market dropped 0.6 percent monthly in April, after a 0.3 percent decrease in March.

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